Portion Of Central Avenue’s 600 Block Is For Sale

ST. PETERSBURG, FL — A portion of Central Avenue’s bustling 600 Block is on the market.

Nearly 16,000 square feet of the vibrant retail strip’s southern half — 654-670 Central Avenue — is for sale, according to a news release from Franklin Street.

Franklin Street’s retail investment sales team, Anthony Suarez and Ryan Derriman, is working with the property’s owner, Miami-based Tricera Capital, to market the sale of what they’re calling a “trophy retail asset,” which is fully leased and home to businesses like Mangosteen, Colony Grill, Pacific Counter, Maple Street Biscuit Company and Rocket Fizz.

In recent years, the property has received extensive renovations totaling more than $500,000, including new fire safety systems, new roofing, updated electrical systems, new rooftop HVAC units and new awnings with lighting.

And with newly signed leases have come extensive interior renovations to tenant spaces, as well, the commercial real estate company said.

“This is a rare opportunity to acquire a fully occupied retail asset that is home to some of Downtown St. Pete’s most popular restaurants and shops, in a truly unbeatable location,” Suarez said. “It’s such a true live, work, play environment and with so many new projects in the immediate area, it’s hard not to be excited about the future of Downtown St. Petersburg. There is a long runway ahead, particularly on Central Avenue, and we expect rents to continue to rise and property values to continue to appreciate.”